Transmission Entertainment (01326) announced interim results for the six months ended December 31, 2023, and the group achieved...
According to the Zhitong Finance App, Entertainment (01326) announced the interim results for the six months ended December 31, 2023. The group achieved revenue of HK$69.95 million, a decrease of 10.39% year on year; loss due to company owners was HK$23.66 million, an increase of 40.12% year on year; loss per share was 0.91 HK cents.
The TV Series Production and Distribution and Pan-Entertainment Division achieved total revenue of approximately HK$39.5 million during the review period, a decrease of about 7.5% compared with the same period last year. The Group's revenue from mainland China accounts for about 56.7%, and mainland China continues to be the Group's main source of revenue.
The Group obtained losses attributable to the owners of the company in the review period of approximately HK$23.7 million, compared to a loss of approximately HK$16.9 million in the same period last year. This is mainly due to the adverse effects of the industry still in the post-pandemic recovery phase. The Group's TV drama production and work arrangements for its artists were postponed, and no new TV series or variety projects were filmed or delivered during the review period; and considering the current market environment, increased competition after the pandemic and future uncertainty, the company confirmed an intangible asset impairment loss of approximately HK$12.1 million during the review period.